Liquidation of LLC

This article shows the scheme of liquidation of an LLC in Minsk, if such a decision was made by its members. You can get additional information on this topic by contacting us for advice.

Step 1. Find the company in the coordination plan of control activities

If the name of your company appears in this list, then it will not be possible to close the company just like that. The process of liquidation of the company can be started, but it will not receive a logical conclusion until the planned audit is carried out. Moreover, it is not always possible to find out when the end will be put in the legal existence of the enterprise. Practice shows that you will have to deal with a thorough double check of the work for the entire existence of the enterprise.

Step 2. Make a decision on the liquidation of the company

Only the founders have the right to do this. The decision is formalized by the minutes of the general meeting of the company’s participants. Important: all members of the society must agree with the closure of the enterprise. If there is only one participant in the company, then the company is closed by the decision of the sole participant of the company. The decision to close the company prescribes:
  • To elect a commission that will deal with the liquidation of LLC in Belarus.
  • Divide the roles among the members of the commission, elect its chairman. Delegate the solution of urgent tasks to their executors from the members of the commission.
  • Determine how long the LLC closing process will last. According to the regulations of the Republic of Belarus, it should last no more than nine months. The Company has the right to demand an extension of the liquidation process of the organization in the Republic of Belarus for another twelve months.

Step 3. Release employees from their posts

It is necessary to dismiss employees in strict accordance with the norms and laws of the Republic of Belarus. Otherwise, former employees may apply to the court to defend their rights to reinstatement. The dismissal of employees should take place with minimal financial losses for the organization.

Step 4. Send a document on the closure of the enterprise to the state agency

If the decision to close the company has already been made, then it is necessary to notify the registration authority within ten days. This is the task of the head of the liquidation commission. He must send an application to the state agency for the liquidation of the company or branch. You must contact the agency in person. In addition to the chairman, this can be done by an authorized representative with a power of attorney.

Step 5. Publish information about the closure on the page

Step 6. Report the closure to the bank that serves your organization

The commission for the liquidation of commercial organizations is given a month to do this. After that, information is provided to the financial institution for making changes to the card with samples of the signature and seal impression. The list of documents required to perform the above operations is determined by each bank independently.

Step 7. Check the company’s property and its condition

This step must be performed in order to compile a liquidation balance sheet. The inventory is carried out in order to understand what assets the closing organization owns and whether it has debt obligations.

Step 8. Inform creditors

From the moment of publication on the web page creditors have two months to present their claims to the firm. The organization that made the decision to close must additionally notify its creditors of this fact in writing, as well as create a register of creditors’ claims.

Step 9. Get data on the inspection carried out by a number of organizations

Tax and customs services, the Social Protection Fund of the Population, and Belgosstrakh must submit certificates of arrears to the registering authority. The above organizations are obliged to send this information within 30 working days from the date of receipt of the notification.

Step 10. Pay off creditors

After two months after the publication of the information about the closure, an interim balance sheet is drawn up. It is formed based on the data collected during the inventory, as well as from the received list of creditors’ claims.

Step 11. Pay money to members of your organization

If, after the payment of debts, the company has property and funds left, they are divided among the participants of the LLC.

Step 12. Close accounts in a financial institution

In order to liquidate bank accounts, it is necessary to provide its representatives with a list of documents. Which ones, it is worth checking with your bank.

Step 13. Provide the data for the archive to the local executive committee

If you were registered in Minsk, then the Minsk City Executive Committee will receive and store information about your company’s activities. It is necessary to send the company’s constituent documents there, as well as information on personnel confirming the length of service and remuneration of employees.

Step 14. Submit data on the closure to the state agency

The Commission for the liquidation of the company needs to collect the following set of documents:
  • seals of the closing company;
  • the balance sheet at the time of liquidation of the company (the balance sheet is certified by the liquidation commission, its members put their signatures on the document, at the end of the general meeting, the members of the company must approve this document);
  • the original certificate confirming that the legal entity was registered.

Step 15. Wait until the registering authority decides to make an entry in the Unified State Register on the exclusion of the company from it

The company has no debts. The documents are collected. The papers for the archive were transferred to the local executive committee. Now the body that once registered your company as an LLC can make an entry in the Unified State Register on the exclusion of the company from it.
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